Google reaches deal with Canada to pay C$100 million to media companies

Canada's Online News Law Affects Big Internet Companies

✅ Receive news from Brazil 247 and TV 247 on Channel 247 from Brazil and on community 247 on Whatsapp.

(Reuters) – Canada and Google have reached a deal to keep news in search results, with the internet giant agreeing to pay C$100 million a year to the country's newspaper publishers, the Canadian Heritage Minister said Wednesday.

The deal addresses concerns from Google, a company owned by Alphabet (NASDAQ:GOOGLE), on Canada's Online Information Act, which aims to force large Internet companies to share their advertising revenue with the country's information companies.

CONTINUES AFTER ANNOUNCEMENT

“After weeks of productive discussions, I am pleased to announce that we have found a path forward with Google to implement the Online News Act,” Heritage Minister Pascale St-Onge said in a statement.

The law, part of a global trend to encourage internet giants to pay for information, was approved by the Canadian Parliament in June. The government is finalizing the rules which must be published before the December 19 deadline.

CONTINUES AFTER ANNOUNCEMENT

Google had announced that it would block information on its platform, saying that Canadian law was stricter than European and Australian law. The company had also raised concerns that it would be exposed to potentially unlimited liability.

Last month, a Canadian information trade group supported some of Google's concerns about the new law.

CONTINUES AFTER ANNOUNCEMENT

Meta, another Internet giant targeted by the law, has already blocked information sharing on Facebook (NASDAQ:AIM) and on Instagram due to concerns about the legislation.

The deal between Google and Canada was initially reported by Canadian Broadcasting.

CONTINUES AFTER ANNOUNCEMENT

(Reporting by Ismail Shakil in Ottawa)

iBest: 247 is the best political channel in Brazil in terms of popular vote

Subscribe to 247,support by Pix,subscribe to TV 247, in the chain Cups 247 and look:

Laura Davis

"Total troublemaker. Alcohol aficionado. Social media specialist. Friendly travel nerd."

Leave a Reply

Your email address will not be published. Required fields are marked *